Haryana budget is growth-oriented: Finance Minister

Published: Tuesday, March 15, 2011, 10:45 [IST]

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Chandigarh, Mar 14: Haryana Finance Minister Ajay Singh Yadav today said that the state budget for 2011-12 is balanced, growth-oriented and tax-free, though opposition INLD said that there was tradition of imposing taxes later on.

The state is expected to become revenue surplus in 2012-13 as there would be no impact of arrear of pay revision in that year, Yadav said replying to the various issues raised by the members of the House during the general discussion on budget.

"The budget is progressive, growth-oriented and for the Aam Aadmi (common man)," Yadav said regretting that the opposition members have not studied the budget fully and had failed to come out with any constructive suggestions.

Intervening during his reply, Leader of Opposition and INLD President Om Prakash Chautala said that there was a tradition that the state government imposes taxes later on though it patted its back by claiming to have presented a tax-free budget.

"Can you give the promise that you wont impose any taxes after the budget is passed," Chautala asked the Finance Minister, to which he replied, "we will see that in future".

Yadav said that the state was progressing fast in various spheres. Total Revenue Receipts had increased from Rs 11,149 crore in 2004-05 to expected Rs 32,018 crore in 2011-12, showing an increase of 187 per cent.

The increase in VAT in 2010-11 was 36.18 per cent over 2009-10 and expected to increase by 14.63 per cent in 2011-12.

Yadav said that 5 per cent cess on VAT had been levied in 2010-11 and the receipt from cess was estimated to Rs 400 crore during current financial year and Rs 450 crore was likely to be received in 2011-12.

"During the five year period of INLD regime from 2000-05, the total loan amounting to Rs 26073 crore was raised while our government raised Rs 18548 crore during 2005-10 which is Rs 7525 crore less," he said.